Kuaishou Likely to Face Challenges Growing E-Commerce Sales -- Market Talk

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Kuaishou Likely to Face Challenges Growing E-Commerce Sales -- Market Talk

Dow Jones08-23

0249 GMT - Kuaishou will likely face challenges growing its e-commerce sales amid a soft macroeconomic environment, Morningstar analyst Kai Wang says in a research note. The analyst points out that while the Chinese short-video company raised its e-commerce monetization by 10 basis points to 1.3%, macroeconomic headwinds led to the sharp gross merchandise value underperformance. The analyst cautioned that slowing e-commerce sales growth over consecutive quarters could indicate prolonged consumption weakness. Morningstar lowers its e-commerce GMV growth assumptions to the mid-teens from the low 20s on a two-year CAGR basis. It cuts the stock's fair-value estimate to HK$70.00 from HK$77.00 to reflect the 2Q results. Shares are 0.1% higher at HK$39.90. (tracy.qu@wsj.com)

(END) Dow Jones Newswires

August 22, 2024 22:49 ET (02:49 GMT)

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